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Trading Made Simple

  • #35,421
  • Apr 10, 2014 9:14am Apr 10, 2014 9:14am
Quoting Direwolf
{quote} Thanks Bizzle! Do you also exit trades at the 3rd candle? May I ask how long have you experiment with trading the Big E style? I want to go back and read all your posts
Yes, I close all trades at 2pm uk time, but if I check my computer at 10am and there was no momentum in the last 4 hours or the trades in the negative I will close at 10am and also if it in a nice positive I will move my stops to break-even

I have been trading TMS for years now on the 4 hour, I was a silent reader before and also had a full-time job so didn't post but now I have the time I can share my experience with you all

This is the 4th week I am trading as seen on page one

Best of luck
Give yourself a chance and trade it like it's layed out...
  • #35,422
  • Apr 10, 2014 9:20am Apr 10, 2014 9:20am
GBPCAD forming a Bullish pin bar
Attached Image
Sad i'm not trying to understand PA
  • #35,423
  • Apr 10, 2014 9:43am Apr 10, 2014 9:43am
Quoting Direwolf
follow some great example, I tried demo the page 1 H4 method these past few days but I'm getting streaks of loses. ucad -9 cadjpy -10 audcad -17 eg +-0 eu -11 gj +2 ej -17 I'm sure I'm doing something wrong...
Direwolf,

Post the date and candle time of each of these trades. Let's have a look see.
  • #35,424
  • Apr 10, 2014 9:55am Apr 10, 2014 9:55am
Quoting hostwey
Here is Big E trading the TMS on the Weekly time frame! http://www.forexfactory.com/showthre...07#post4605507 He knew no fear! {image}
I'd be curious to know how he managed this position. His MFE for the next two weeks was +425 pips, but third week would have been stopped out based on original S/L. Surely he locked in profit over the course of the trade!????
  • #35,425
  • Apr 10, 2014 9:58am Apr 10, 2014 9:58am
Quoting timginter
{quote}Huge thanks! The only reason I have 28 pairs now is to find the ones that fit TMS best, thanks for that list!
No problem. Big E also has the list of pairs in his 1st posts. The swings and valid signals are essential. Also the spread.
Those who know don't talk. Those who talk don't know.
  • #35,426
  • Apr 10, 2014 10:10am Apr 10, 2014 10:10am
Quoting Zoopots
4/10/0400 update- S/L lowered again to .8830 protecting +82 pips of profit; left TP at .8750. PA closed below the 61.8% Fib level which bodes well for this trade. HA still surfing the PAC south...love it. {image}
USDCHF H4 4/10/2000 update:

Lowered TP to .8730 below Fib 78.6% area and in middle of March lows; moved S/L to .8802 protecting +110 pips of profit; PA still surfing the PAC; TDI at "11"...a correction may be around the corner; MFE currently at +163.

Attached Image
  • #35,427
  • Apr 10, 2014 10:18am Apr 10, 2014 10:18am
Quoting Zoopots
{quote} USDCHF H4 4/10/2000 update: Lowered TP to .8730 below Fib 78.6% area and in middle of March lows; moved S/L to .8802 protecting +110 pips of profit; PA still surfing the PAC; TDI at "11"...a correction may be around the corner; MFE currently at +163. {image}
Great trading mate

Not one blue candle
Give yourself a chance and trade it like it's layed out...
  • #35,428
  • Apr 10, 2014 10:19am Apr 10, 2014 10:19am
Quoting Zoopots
{quote} USDCHF H4 4/10/2000 update: Lowered TP to .8730 below Fib 78.6% area and in middle of March lows; moved S/L to .8802 protecting +110 pips of profit; PA still surfing the PAC; TDI at "11"...a correction may be around the corner; MFE currently at +163. {image}
Yes rejected 100 EMA too so this was a good call
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  • #35,429
  • Edited 11:00am Apr 10, 2014 10:36am | Edited 11:00am
Quoting timginter
{quote}Thanks {quote} Try profiles. Yesterday I did a cross-over of all the major pairs and I have now 4 TMS profiles set up with 8 charts tiled on each (4 charts on the last profile). I realised 2 days ago that with only 8 pairs I was looking for a setup even if there was none (hence -10 pips on Tuesday), I thought that with more charts to check I'll only choose the best entries, but I was wondering if I didn't go too far with 28 pairs
Thankyou for your suggestion. I'll bear it in mind.
.... laughing all the way to the bank
  • #35,430
  • Apr 10, 2014 11:04am Apr 10, 2014 11:04am
Quoting fxFox.mb
Todays EURJPY and EURAUD H1 trades. one looser, two winners EURAUD - Short break of master candle during FO with TDI bounce => +40 pips EURJPY - Long after PCRF, but didn't wait the high of the PCRF taking out => costs me -14 pips EURJPY - Next long after newly PCRF - now with more luck. In this case, the high of the PCRF was clearly on the other side of the SMA5. (Too clear, because price was about 24 pips above the prev. candle. Should have been entered eaelier.) I waited for a retracement to the SMA5 and entered above the SMA5 @140,90. => +35...
Nice trades fxFox.mb , I'm trying to clone Phx62 trading style as you do and took the EA trade today and I got a nice 30 pip, the EJ trade was too crowded for me take the trade and didn't have a clear shot , I can see that you developed a good understanding about pullback candles formation which I find it's not easy to grasp, I'm trying to backtest everything but the markets are changing most of the time , do you try to find other pullback formations or just what was found in Phx62 PDfs ?

Thanks
  • #35,431
  • Apr 10, 2014 11:22am Apr 10, 2014 11:22am
Quoting Bizzzle
{quote} Yes, I close all trades at 2pm uk time, but if I check my computer at 10am and there was no momentum in the last 4 hours or the trades in the negative I will close at 10am and also if it in a nice positive I will move my stops to break-even I have been trading TMS for years now on the 4 hour, I was a silent reader before and also had a full-time job so didn't post but now I have the time I can share my experience with you all This is the 4th week I am trading as seen on page one Best of luck
Just curious. Why close at the 3rd candle. Some trades run more than 10 candles??
  • #35,432
  • Apr 10, 2014 12:00pm Apr 10, 2014 12:00pm
Quoting dforant1
{quote} Just curious. Why close at the 3rd candle. Some trades run more than 10 candles??

This is just the technique that Big E used on the 4 hour charts.

He traded 6am-10am-2pm and closed all trades at 2pm london time since the London session was ending and this is where most of the movement is.

He avoided leaving trades open after this since he stated that the markets tend to range after this.
Focus on the process and the profits will follow
  • #35,433
  • Apr 10, 2014 12:04pm Apr 10, 2014 12:04pm
Quoting MrAussieFX
I might trade Daily TMS (for some time) from now on as of work restrictions. My daily candle from FXCM NY close starts at 7:00 AM Australian time. Any suggestions or advice from members using TMS on daily would be much appreciated. Kind regards
MrAussieFX

You will find little mention of trading this time frame on this thread - not many here want to trade it and feel it clogs up the message of the thread when Daily is brought into the mix. An interesting thread for a TMS variant on the Daily can be found here

Personally, I believe trading the Daily TF is key for those that don't have the time to trade their Personal Account @ work. Like most here I started of trading the pure TMS a la Big E, then was awoken to the usefulness of PASR with TMS thanks to certain members and the stellar contributions.

The key to trading TMS on the D TF is to create a sound plan around numerous things (e.g. your expectations and profit cycle, beliefs, system(s), entries, exits, MM & position building) This takes a lot of WORK but it's worth it both personally and in regards to your trading. A critical factor for the Daily TF is patience - especially when it comes to testing and demoing before you go live.

For me the PAC (as apposed to STARC bands) in conjunction with EMA's for dynamic S/R, TDI and Price action are good areas to test a system around if you are seriously considering checking out TMS on the daily TF. A crucial element here to this TF is a solid position building strategy and MM system. More importantly a system development exercise as we can all to often get caught up in trying to replicate each others styles when it doesn't fit into our beliefs or psychological make-up.

A while ago Emmanuel told me something that needs to be remember and a part of any system designed around this TF "We need to think like traders, but we must trade like an investor."

Goodluck
  • #35,434
  • Apr 10, 2014 12:43pm Apr 10, 2014 12:43pm
Quoting Bizzzle
{quote} Yes that's the times I am using! I was looking at the trade you said you enter and didn't see any good entry this morning myself? I couldn't trade at 10am this morning but looking at the charts I would have prob enter EG if I was at my screen for some pips You must remember we only want to take the best set-ups and we can gain more confidence by back-testing, looking at past chart and seeing which candles where successful or not and why? At 6am I saw good PA set-ups on GJ,EJ and UJ candles with momentum but TDI did not crosses so I stayed...
Isn't it: 1st candle opens 2 hours before LO, 2nd candle - 2 hours after LO and 3rd candle 6 hours after LO?
Weird, though, OANDA does not change their time with DST. In winter time my H4 candles are the same as yours, Bizzzle and Direwolf, but now my first candle opens 3 hours before LO, second 1 hour after. Would it make a big difference? I wonder if I should time my entries/exits on 4xH1 candle instead H4
  • #35,435
  • Apr 10, 2014 1:46pm Apr 10, 2014 1:46pm
Quoting Erol
{quote} MrAussieFX You will find little mention of trading this time frame on this thread - not many here want to trade it and feel it clogs up the message of the thread when Daily is brought into the mix. An interesting thread for a TMS variant on the Daily can be found here Personally, I believe trading the Daily TF is key for those that don't have the time to trade their Personal Account @ work. Like most here I started of trading the pure TMS a la Big E, then was awoken to the...

Great post Erol!

Just based on my two weeks of experience being here, TMS h4 is not working out well. Backtesting it worked great. But I have simply not been doing well in it and it happens during night for me. Yes, my time zone is same as Big E, but being a university student, I need sleep to perform the next day.

I am going to go back to trading the daily time frame as it has led me to success in the past. I trade pure PA with PA candlestick entries. However, I noticed that I missed a few trades because PA did not give me a good signal off a S/R zone. I plan to use TMS to take those entries (if TMS gives me entries) if the PA does not. This way I won't miss out on good trades as I will have two methods to trade. I will still use s/r zones to manage trades as s/r works well for any method.
Lets Make Some Money
  • #35,436
  • Apr 10, 2014 1:54pm Apr 10, 2014 1:54pm
A post of encouragement for those struggling with the power of this thread.

On about 20 Feb 2014 I received a video from CompassFx discussing the AUDNZD and the presence of an inverted H & S pattern and a discussion of what the pair may do as time passed. That video (http://www.compassfx.com/video/ip/22014/22014.html) brought a pair to my attention I did not monitor. But, in keeping with my own analysis, I did note the major area of resistance at 1.0525. I set a MT4/Terminal/Alert at 1.0550 and honestly, forgot about the pair until that alert triggered on 12 March. I started watching the pair in earnest as it rested on the 1.0525 area.

On 3/20/1200 H4 close, I entered long based on several factors but most notable were: 1. Six tests of 1.0525 and 2. A nice H4 TDI bounce signal. S/L was initially 72 pips. Based on what I heard in that video, I moved S/L to just above break even on 3/24/0800 and decided to turn this trade into a Position trade, or, let the horses run or get stopped out...either way, it wouldn't be painful.

I'm posting the pics below to encourage those who have aspirations to live life away from the computer and focus on the really important things in life (family) to go for it.

This is when the video came out (BTW, you can receive these for free):
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This is a shot of the trade entry:
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And this is where the trade is today:

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I hope this will encourage some readers to stick with the plan. It seems everyday I learn something new about the FOREX market even after 8 years......

Stay focused.
  • #35,437
  • Apr 10, 2014 2:19pm Apr 10, 2014 2:19pm
GBPCAD proved to be a bad choice costing 44 pips

So with EA and UJ a -8p for the session.

I think from now I will not bother with 10am entry unless a perrrrrrrfect entry
  • #35,438
  • Apr 10, 2014 2:35pm Apr 10, 2014 2:35pm
My daily selections today

GBPCHF short
EURGBP long

Could not find a good yen trade and not touching anything Aussie
  • #35,439
  • Apr 10, 2014 2:53pm Apr 10, 2014 2:53pm
Congratulations for the positive attempt.Please,how can I insert TDI on my chart.
  • #35,440
  • Apr 10, 2014 2:53pm Apr 10, 2014 2:53pm
Remember guys you will get better and better at finding the best set-ups, it just take practice

Big E said this:
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Give yourself a chance and trade it like it's layed out...
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Maxwellfx001